Ep. 2: FATF Special: Inside the World of Financial Crime and Asset Recovery

“If it doesn't bang or bleed, no one's doing anything about it.”

In this episode of "Seize & Desist", Aidan Larkin sits down with David Lewis, Managing Director and Global Head of AML Advisory atKroll, former Executive Secretary of the Financial Action Task Force (FATF) and leading figure in the battle against global financial crimes.

They address the notorious 1% statistic, the challenges of cross-sector collaboration and explore how seized asset recovery efforts can be improved within FATF guidelines, delving into the need for effective communication, the appointment of accountable figures, and the need for urgent reforms with broader strategies that extend beyond current standards.

Timestamps

1 | David’s background and FATF’s mandate

5 | What is the 1% stat and why is asset recovery challenging

12 | FATF’s renewed focus on asset recovery and creating a minimum standard

18 | Should the Public Sector leverage Private Sector companies to assist with seizures

22 | Improvement of Government resources towards fighting financial crime

28 | The real cost of financial crime and good examples of how to combat it

Resources Mentioned:

• RUSI website
• FATF website
• FATF plenary highlights
• GLOBAL COALITION TO FIGHT FINANCIAL CRIME (GCFFC)
• Amendments to the FATF Standards to Strengthen Global Asset Recovery
• AR Blog: FATF’s Trailblazing Asset Recovery Standards

About our Guest:

David Lewis (Managing Director and Global Head of AML Advisory atKroll) and the former Executive Secretary of the Financial Action Task Force (FATF), the intergovernmental organization that sets standards for AML/CFT globally.

As a highly respected leader in the fight against financial crime, David has played a pivotal role in coordinating international efforts to combat money laundering money laundering, terrorism financing and weapons proliferation. He has been instrumental in the development and implementation of policies to identify and mitigate risks associated with financial crime.

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